Al Salam Bank, in collaboration with Solidarity Bahrain, has announced the launch of the first multi-year takaful insurance for cars in Bahrain.
Doha-headquartered AlKhaleej Takaful Insurance Company has agreed to sell its 25% equity in Bahrain National Life Company (BNL).
The Nasco Insurance Group, an international group that specialises in direct and reinsurance broking, has acquired the retail insurance broking company, Crescent Global Insurance Services (Crescent).
Insurers in Bahrain are addressing the growing trend of EV ownership although the current number of such vehicles is less than 750 out of a population of 750,000 vehicles in the kingdom.
Price increases, regulatory enforcement, M&A activity and generally favourable economic conditions have boosted the insurance revenue of 76 listed insurers in the GCC region for a second consecutive year in 2023 (FY2023).
Bahrain-based Arab Insurance Group (Arig) has announced that its appeal to recover amounts due from Saudi Arabian insurer, Al-Rajhi Company for Cooperative Insurance (Al Rajhi Takaful), has been successful in the final hearing before the Committee of Appeal of the Insurance Disputes and Violations Committee (IDVC) in Riyadh.
Bahrain Kuwait Insurance Company (BKIC), which is part of the regional insurance group Gulf Insurance Group, has launched distance-based motor insurance, which it offers exclusively online.
Takaful International, which is a subsidiary of GIG Bahrain, has posted a net profit attributable to shareholders of BHD937,289 ($2.48m), in 2023, compared to BHD858,000 in 2022, representing an increase of 9%.
Gulf Tamin has acquired a stake of 13.85% in reinsurer Arab Insurance Group (ARIG), according to a statement filed by ARIG with Bahrain Bourse.
Bahrain Kuwait Insurance Company (BKIC), part of Kuwait's Gulf Insurance Group, has reported an 8% increase in insurance revenue to BHD109.988m in 2023 from BHD101.926m in 2022, according to financial statements filed by the company with the Bahrain Bourse.